NavSight Holdings, a blank check company targeting a business that supports national security, intelligence and defense missions, filed on Friday with the SEC to raise up to $200 million in an initial public offering.
The Reston, VA-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed price, NavSight Holdings would command a market value of $250 million.
The company is led by CEO and Chairman Robert Coleman, who was the founder and CEO of Integrated Data Systems, which was acquired by ManTech (Nasdaq: MANT) in 2003 for an aggregate purchase price of $62.7 million. CFO Jack Pearlstein most recently served as the CFO of Cision (NYSE: CISN). The company intends to initially focus on a target business that provides expertise and technology to US government customers in support of their national security, intelligence and defense missions.
The Reston, VA-based company was founded in 2020 and plans to list on the NYSE under the symbol NSH.U. Credit Suisse is the sole bookrunner on the deal.
